Cowen analyst Doug Schenkel attributes the selloff in shares of DexCom (DXCM) to misinformation in the market following the ATTD meeting last week. The analyst said DexCom management disputed reports that the administrative path to CMS reimbursement was not viable, saying that path is still one of three that the company can pursue and still the most likely to lead to evenual reimbursement. Also, Schenkel said there is no change to management's guidance on dosing claim timing and that speculation that a notable proportion of DexCom's growth is attributable to Medtronic (MDT) conversions is said by managment not to be the case. The analyst keeps an Outperform rating and $100 price target on DexCom shares.

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Pre-earnings options volume in DexCom is 11.4x normal with calls leading puts 11:2. Implied volatility suggests the market is anticipating a move near 5.8%, or $8.05, after results are released. Median move over the past eight quarters is 5.4%.